Smartphones

HMD Global and FIH Mobile on Thursday announced that they had completed their buyout of Nokia assets from Microsoft which opens a way for return of Nokia branded smartphones to the market. As expected, HMD and FIH will keep selling Nokia-branded feature phones in developing countries but will add a range of android-based smartphones and tablets to the lineup in 2017. The two companies hope that relationships with operators as well as manufacturing assets (Foxconn) will be instrumental for making their endeavor a success.
As reported earlier this year, HMD Global and FIH Mobile, a subsidiary of Hon Hai/Foxconn Technology Group (we will call the company “Foxconn” for simplicity), paid Microsoft approximately $350 million in cash for various Nokia-related assets. Under the terms of the...